For weeks now, leading US politicians have called for a, and on Thursday evening, it may become more clear what that means. Less than a week before his will reveal more details of his economic stimulus plans for 2021, including a a potential return to a $600 and a .
“Biden tweeted Jan. 10.when you have to choose between paying rent or putting food on the table. We need $2,000 stimulus checks,”
But there’s a growing understanding that the third stimulus check may not itself be for $2,000 per person, which would givea total of up to $2,600 with the and third payments combined. Instead, Biden may propose a third stimulus check for up to $1,400 per , a figure that would between the two payments. Here’s everything we know so far.
How and why a $2,000 or $1,400 stimulus check could happen
Ironically, President Donald Trump — who wasand faces his — set serious discussions of a $2,000 stimulus check in motion when he initially delayed signing and demanded to raise the $600 ceiling on the to $2,000.
“We will get that done,” Senate Minority (soon to be Majority) Leader Chuck Schumer wrote Jan. 12 in a letter to Democratic colleagues, according to multiple reports. With a soon-to-be, Schumer is counting on pushing the legislation through.
Biden had already made it clear he supports a third stimulus check, but before last week, had shied away from committing to a sum. In his early presidential campaign, he had suggested a, modeled on the first, but more recently, he left the question open, calling the exact total “a negotiating issue.”
What could stand in the way of a ‘$2,000’ third stimulus check?
Many Republicans are expect to object to a new, high-priced stimulus package, especially one with that could more than. With the Senate evenly divided and incoming Vice President-elect Kamala Harris set to act as a tiebreaker, opposition from just one Democratic senator could sink the party’s hopes for a large third stimulus check.
One possible objector could be Sen. Joe Manchin, a centrist Democrat from West Virginia, who expressed concern multiple times about the cost of a third stimulus check and suggested the financial aid could be better focused on those most in need of the money.
“Absolutely not. No. Getting people vaccinated, that’s job No. 1,” Manchin told The Washington Post on Jan. 8 when asked about more. “How is the money that we invest now going to help us best to get jobs back and get people employed? And I can’t tell you that sending another check out is gonna do that to a person that’s .”
Shortly after, Manchin appeared to have softened his stance. According to NBC News, Manchin’s spokesperson said he was “open” to hearing President-elect Joe Biden’s case for a larger stimulus check, but prioritizes . Funding to deliver the is also on Biden’s agenda for a large stimulus bill. Manchin repeated his views Jan. 10.
How a third stimulus check could deliver more money
A larger maximum total per person is the obvious way your household would see more money in a third check compared to the second, but there’s more to it than that. Since the upper limit for a, with an extra , the way , more people hit the upper income limit for receiving a second payment, which means they at all.
A third stimulus check could:
Here are other ways ain your pocket.
Other funding that could be in a new stimulus bill
We already know some of Biden’s, which he shared as part of his presidential campaign trail. There’s a good chance that he’d push Congress to revisit those agenda items, in addition to several programs left out of December’s by both Republicans and Democrats.
They could include measures like:
- A larger third stimulus check that could reach more people.
- Larger past March.
- Renewing the past Jan. 31.
- Student loan deferrals or forgiveness for public schools.
- More money for state, local and tribal governments.
- More money for contact tracing, coronavirus testing and distribution.
- Liability protection for businesses against coronavirus-related lawsuits.
For more information, here’s how to, and a primer on the .